Determining the FV of an explorer, or indeed anything, is akin...

Determining the FV of an explorer, or indeed anything, is akin to pondering the length of an unmeasured string. Value, in essence, is not an absolute metric but rather what someone is ready to pay for an item or an asset. Such evaluations are inherently personal, relying on one's risk appetite, financial threshold, and expectations. Some might value a specific explorer's such as Loyal's, share price (SP) between $1 to $2, while others might peg it at 40-50c, and still, others may deem it valueless until the company provides a JORC Mineral Resource Estimate (MRE) for any of its ventures. Though speculation can be engaging, it's good to remember that at its core, it remains just that – speculation. GL in your DD.